The Richest Man in S’pore is Still Someone Who Makes a Killing Due to COVID-19

Every year, there’s an exclusive list that people are on the lookout for; the Forbes’ World Billionaire List.

In its 35th edition back in 2021, the list reported a $5 trillion surge in wealth and 493 new entrants despite the COVID-19 pandemic.

And just like in previous years, you’ll see names from Singapore as well.

After all, it’s always good to know who are the super-rich living in Singapore right now, right?

Li Xiting

Ranked the 94th richest billionaire in the world, Li Xiting is named the richest billionaire in Singapore.

Li is the founder and chairman of Shenzhen Mindray Bio-Medical Electronics with a net worth of US$17.6 billion.

Number One Since 2021

Li overtook Zhang Yong, the founder of Haidilao, for the first time in 2021.

He first appeared on the Forbes List of Singapore’s Richest for the first time with a net worth of US$23 billion.

A new face, he shot to the top of the list, which isn’t surprising if you really think about it. His company, which manufactures ventilators, saw significant growth due to the pandemic.

Riding on the increased demand for medical equipment, Li’s company’s shares rose by 19 per cent in 2021.

While Li’s net worth was US$17.6 billion in 2022, he still remains the richest man in Singapore.

Meanwhile, Zhang Yong, the founder of Haidilao, fell to the seventh position with a net worth of US$5.3 billion, a huge drop of US$10.7 billion from the Forbes List of Singapore’s Richest.

Zhang’s wife, Shu Ping, is the only female billionaire from Singapore on the list this year.

Other Singaporeans On The List

Unlike 2021 where there are 32 Singaporeans on the list, there are only 26 names from Singapore on this year’s list.

You can see the full list below:

1. Li Xiting (US$17.6 billion)
2. Robert and Philip Ng (US$13.7 billion)
3. Goh Cheng Liang (US$12.1 billion)
4. Wee Cho Yaw (US$7.2 billion)
5. Kwee Brothers (US$5.5 billion)
6. Forrest Li (US$5.3 billion)
7. Zhang Yong (US$5.3 billion)
8. Jason Chang (US$4.6 billion)
9. Kuok Khoon Hong (US$3.5 billion)
10. Gang Ye (US$3.1billion)
11. Kwek Leng Beng (US$2.8 billion)
12. Raj Kumar and Kishin RK (US$2.6 billion)
13. Zhao Tao (US$2.5 billion)
14. Choo Chong Ngen (US$2.4 billion)
15. Peter Lim (US$2.4 billion)
16. Kwek Leng Kee (US$2.1 billion)
17. Oei Hong Leong (US$1.9 billion)
18. Sam Goi (US$1.6 billion)
19. Asok Kumar Hiranandani (US$1.6 billion)
20. Zhong Sheng Jian (US$1.6 billion)
21. Shu Ping (US$1.4 billion)
22. Chua Thian Poh (US$1.3 billion)
23. Ron Sim (US$1.3 billion)
24. Kwek Leng Peck (US$1.2 billion)
25. Koh Wee Meng (US$1.1 billion)
26. Yao Hsiao Tung (US$1 billion)

You can view the list in full here.

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Feature Image: Malaysia Now